Teck Resources (TSX: TECK.A, TECK.B) appears to be about to go through some production delays. The firm early this morning indicated that it has received a strike notice for one of its operations in British Columbia.
The strike notice comes from the United Steelworkers Local 7619 at the company’s Highland Valley Copper mine in British Columbia. The union has been without a collective agreement since September 30, and now appears to be looking to push the issue that no new contract has been signed with the company.
With the strike notice now received, the union can begin striking within 72 hours, provided that 48 hours have also elapsed after the mediator reports to the labour relations board.
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Local 7619 has yet to issue a press release on the development.
Teck’s Highland Valley Copper Mine is it’s largest operating copper asset, producing $688 million in gross profits for the company for the nine month period ended September 30.
Teck Resources Class B shares last traded at $40.76 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
